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DENVER--(BUSINESS WIRE)--KRG Capital Partners (KRG) a Denver-based private equity firm, has
completed its previously announced sale of UniversalPegasus
International, Inc. (UPI) to Huntington Ingalls Industries (HII;
NYSE:HII). UPI is a leading provider of engineering and project
management services to the domestic and international energy markets.
HII designs, builds and maintains nuclear and non-nuclear ships for the
U.S. Navy and Coast Guard and provides aftermarket services for military
ships around the globe and also provides a wide variety of products and
services for the commercial energy industry and other government
customers, including the Department of Energy.

The sale of UPI builds on KRG’s track record of partnering with
management teams to build industry leading companies through the
recruitment of top senior and technical talent and making investments to
support future growth plans.

About UPI: UPI has approximately 1,500 employees and has provided
a broad range of engineering and project management services to the
energy industry for over 50 years. They safely and reliably deliver
project management, engineering, design, survey, inspection and
construction management to customers in the domestic and international
marketplaces. More information on UPI is available at www.universalpegasus.com.

About KRG: Founded in 1996, KRG is a Denver-based private equity
firm with $4.3 billion of capital either deployed or available for
future investment, which includes approximately $1 billion deployed
since inception on behalf of equity co-investors. KRG specializes in
acquiring majority interests in middle-market companies and growing them
into significantly larger enterprises through the combination of
internal growth and selective strategic add-on acquisitions. KRG Capital
seeks investment opportunities where we can partner with existing
management teams that are committed to building a best-in-class industry
leading companies. Since inception, KRG has invested in 46 platform
companies and has completed 153 add-on acquisitions for those platforms.
More information on KRG is available at www.krgcapital.com.